The co-pending application referenced above discloses a retractable cleat which exhibits significant advantages in many respects over prior devices, particularly in the ease with which it operates. The present invention is directed to a retractable cleat which is for the most part identical to the device disclosed in the above referenced application, but which is improved in its construction in order to make it more compact. It has been discovered that the use of two compression springs acting against an intermediate part of the cleat body allows for a reduced height, and thus in turn allows installation in places where the available space is limited. Consequently, the device of the present invention can be installed in areas where other devices will not fit.